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FEDERAL RESERVE NOTES


Federal Reserve Note prior to removal of gold to foreign principals

Federal Reserve Note prior to removal of gold to foreign principals of the Federal Reserve Banks.

The words 'AND IS redEEMABLE IN LAWFUL MONEY' refer to original legal obligations of the Federal Reserve act. In the arguments by which the Federal Reserve Act was passed, the notes were to be redeemable in 'Lawful money' is still defined by the Constitution in units of gold or silver. Ostensibly, the obligation to redeem the notes in lawful money was to prevent the Federal Reserve Banks from abusive issues of currency. A constitutional amendment is required to change the legal definition of the dollar.





Federal Reserve Note prior to removal of gold to foreign principals of Federal Reserve Banks

Original issues promised to pay lawful money, upon demand.





Federal Reserve Note after removal of gold to foreign principals

Federal Reserve Note after removal of gold to foreign principals — simply stripped of the evidence of the obligation to redeem.





Federal Reserve Note after removal of gold to foreign principals

The Federal Reserve Banks removed gold to their European constituents from the United States Treasury, by redeeming worthless German paper issued by the constituents, in gold intended to back American depositors' money.

Although still called a 'note', and although the Federal Reserve Act obligated the Federal Reserve to redeem the paper in lawful money to the American people, the Federal Reserve note was now a promise to pay nothing.



Federal Reserve Note. Worth nothing.
Backed by nothing. 
 Gold & Silver Never Lie.
New $100 Front REAL MONEY